JUST IN: Chainlink And DTCC Successfully Complete RWA Pilot Program!

May 16, 2024 7:43 pm Comments

According to sources, Chainlink, the DTCC, and several large banks have successfully concluded an on-chain, real-world asset test pilot.

The Depository Trust and Clearing Corporation (DTCC), one of the world’s leading securities clearinghouses, successfully tested Chainlink’s interoperability protocol, CCIP.

One of the main objectives of Chainlink is to act as a cryptocurrency interoperability hub, featuring seamless cross-talk between chains, in addition to acting as a decentralized oracle network.

Chainlink announced on Thursday: “We’re excited to share the results of a new Smart NAV industry pilot between the DTCC, Chainlink, and 10 of the world’s largest financial institutions that delivered key mutual fund data on-chain.”

Here’s more on the results of the collaborative pilot program, and a link to the full report for the program:

CoinDesk provided a list of banking participants in the pilot program:

Market participants included American Century Investments, BNY Mellon, Edward Jones, Franklin Templeton, Invesco, JPMorgan, MFS Investment Management, Mid Atlantic Trust, State Street and U.S. Bank.

Investors and crypto influencers welcomed the news as bullish for the Chainlink network and its native LINK token.

A portion of the pilot program report was provided by Watcher Guru:

“By delivering structured data on-chain and creating standard roles and processes, foundational data could be embedded into a multitude of on-chain use cases, such as tokenized funds and ‘bulk consumer’ smart contracts, which are contracts that hold data for multiple funds.”

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